Morgan Stanley lowered the firm’s price target on APA Corp. (APA) to $21 from $23 and keeps an Underweight rating on the shares. The firm marked its 2026-27 oil price deck for strip as of January 7 in conjunction with its Q4 preview for the E&Ps, oil majors and Canadian producers. The firm expects “fairly clean” Q4 operational updates but lighter cash flow from price realizations, the analyst tells investors in the preview.
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Read More on APA:
- Balanced Risk-Reward at APA: Weaker Permian and Declining Legacy Oil Offset by Egyptian Gas Stability and Long-Dated Suriname Upside, Supporting a Hold Rating
- APA Corp. downgraded to Underweight from Equal Weight at Barclays
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